How Far Into the Future Does Your Financial Plan Take You?
Rich people never want to be poor. “Whether one’s riches are counted in millions or with a few less zeroes, everyone wants to preserve hard-earned assets.” says Michael Kabarec, CFP®, CPA/PFS/EA, president of Kabarec Financial Advisors, Ltd. (KFA) in Palatine, Illinois.
Kabarec’s advice, which emphasizes protection against volatile market downturns, has been tested and proven many times since he opened his office in a spare bedroom in his home back in 1982. Perhaps never more proven than in 2008, when the major financial markets lost more than 30 percent of their value. His clients already had solid plans in place which reduced their exposure and minimized their losses. They weathered the storm and outperformed the S&P.
It’s a Process, Not an Event
According to Kabarec, retirement readiness is much more complex than simply building a nest egg. “Accumulating wealth is only the first step,” he says. “Preserving wealth throughout retirement is equally important in assuring long-term financial stability. At KFA, we take the life long-view when it comes to financial planning, encompassing decades as well as multiple generations ahead.”
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